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McDonald's announced an aggressive expansion roadmap Wednesday to reach 50,000 restaurants worldwide by 2027, in the fastest growth plan in brand history.
The fast-food behemoth, which had 40,275 restaurants at the end of 2022, will seek to effectively grow its network of sites by about one quarter.
McDonald's, which spread quickly in mid-century America, is already the biggest chain in the fast-food universe, slightly ahead of Starbucks and Subway, two other global brands.
The company is planning about $2.5 billion in capital expenditures in 2024 and will add $300 million to $500 million each year thereafter through 2027.
Manu Steijaert, chief customer officer, said the pace of the current expansion greatly exceeds the previous ramp-up from 30,000 to 40,000 restaurants, which took 18 years.
"Hopefully you can feel the confidence we have in McDonald's' development potential over the next four years and beyond," Steijaert said.
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Sales in recent years have been boosted by some new offerings, such as the popular "McCrispy" chicken sandwich.
The chain has also benefited from greater online ordering since the Covid-19 pandemic, while its reputation for affordability has kept it busy with customer traffic during a period of elevated inflation.
The chain projected nearly two percent revenue growth in 2024.
Source: AFP
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